Piper Sandler Initiates Coverage on Manhattan Associates (NASDAQ:MANH)

Piper Sandler assumed coverage on shares of Manhattan Associates (NASDAQ:MANH - Free Report) in a research report report published on Monday, MarketBeat Ratings reports. The firm issued an overweight rating and a $326.00 price target on the software maker's stock.

Other equities analysts also recently issued research reports about the company. Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. DA Davidson increased their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Raymond James lifted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Finally, Citigroup upped their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has an average rating of "Moderate Buy" and a consensus price target of $290.78.

Manhattan Associates Trading Up 3.9 %

MANH stock traded up $10.83 during trading on Monday, reaching $291.23. 311,489 shares of the stock were exchanged, compared to its average volume of 412,635. Manhattan Associates has a twelve month low of $199.23 and a twelve month high of $307.50. The firm's 50 day moving average is $280.92 and its 200 day moving average is $254.89. The firm has a market cap of $17.79 billion, a P/E ratio of 79.66 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analysts' expectations of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. Manhattan Associates's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. As a group, analysts predict that Manhattan Associates will post 3.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Manhattan Associates by 7.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 426,729 shares of the software maker's stock worth $106,782,000 after acquiring an additional 29,063 shares during the period. Ascent Group LLC raised its position in shares of Manhattan Associates by 11.4% in the first quarter. Ascent Group LLC now owns 1,030 shares of the software maker's stock worth $258,000 after buying an additional 105 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Manhattan Associates during the first quarter valued at $306,000. Kennedy Capital Management LLC purchased a new position in Manhattan Associates during the first quarter worth about $2,144,000. Finally, Janus Henderson Group PLC increased its stake in Manhattan Associates by 18.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,746 shares of the software maker's stock worth $687,000 after acquiring an additional 432 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.